HomeMy WebLinkAboutAmendment to Lease Agmt
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CONSENT TO ASSIGNMENT
AND
FIRST AMENDMENT TO LEASE AGREEMENT
This Consent to Assignment and First Amendment to Lease Agreement is
entered into this 11 th day of January, 2006 by and among the CITY OF MIAMI
BEACH, Florida, a municipal corporation whose address is 1700 Convention Center
Drive, Miami Beach, Florida, 33139 (City and/or Landlord); Miami Beach Federal
Credit Union, a federally chartered credit union, whose address is 775 17th Street,
Miami Beach, Florida, 33139, as Tenant and Assignor of that certain Lease Agreement
with the City, dated July 30, 2003; and Dade County Federal Credit Union, a federally
chartered credit union, whose principal address is 1500 N.W. 107 Avenue, Miami,
Florida 33172, as the new Tenant and Assignee under said assignment as herein below
consented to by the City.
WITNESSETH:
WHEREAS, the City has been leasing to Tenant/Assignor, Miami Beach Federal
Credit Union, a portion of the City-owned property, located at 1701 Meridian Avenue,
Miami Beach, Florida, for Tenant/Assignor's use as a federal credit union under the
terms and conditions of that certain Lease Agreement, dated July 30, 2003; and
WHEREAS, the Tenant/Assignor, Miami Beach Federal Credit Union, and the
new Tenant/Assignee, Dade County Federal Credit Union, have agreed to a merger of
the two credit unions which has been approved by the respective Boards of each credit
union, the voting members of the Miami Beach Federal Credit Union, and by the
National Credit Union Association; and
WHEREAS, Tenant/Assignee has agreed to maintain a Miami Beach branch of
the Dade County Federal Credit Union at the current Miami Beach Federal Credit Union
location; and
WHEREAS, the Board of the Miami Beach Federal Credit Union and the City
are desirous of maintaining said Miami Beach Branch at its current location in order to
best serve the City employees; and
WHEREAS, the merged credit union entities will now operate under the name of
Dade County Federal Credit Union (as the new Tenant/Assignee), thus requiring that
the Lease Agreement be assigned and amended to reflect the newly merged entity, the
City's consent to the assignment, and the renegotiated terms of the Lease Agreement
with the new Tenant/Assignee.
NOW THEREFORE, the City, Tenant/Assignor, and the new Tenant/Assignee,
for and in consideration of the mutual covenants, agreements and undertakings herein
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contained, do by these presents mutually covenant and agree to assign and amend the
Lease Agreement, as follows:
1. Landlord, City of Miami Beach, Florida, hereby consents to the assignment of the
Lease Agreement, from Miami Beach Federal Credit Union (also referred to as
Tenant/Assignor), to Dade County Federal Credit Union (also referred to as new
Tenant/Assignee). Tenant/Assignor and new Tenant/Assignee hereby
acknowledge and agree to said assignment, and Tenant/Assignee further agrees
to be bound by the terms and conditions of the Lease Agreement, as amended
by this Consent to Assignment and First Amendment to Lease Agreement; all as
further evidenced by the parties' execution of the Consent to Assignment,
attached hereto and incorporated herein as Exhibit A-1.
2. Upon execution of the Consent to Assignment and First Amendment to Lease
Agreement, and for purposes of interpreting the cumulative agreements (Le. the
Lease Agreement, the First Amendment to Lease Agreement and the Consent to
Assignment) the term "Tenant" and Tenant/Assignee shall be considered one
and the same, and Dade County Federal Credit Union shall be deemed the new
Tenant for purposes of the Lease. All references to Tenant, under the Lease, as
amended, shall hereinafter be deemed to refer to Dade County Federal Credit
Union.
3. Section 2, entitled "Term", (including Subsections 2.1 and 2.2), located on
Page 1 of 18 of the Lease Agreement, is deleted in its entirety and replaced with
the following new Section 2.
2. Term.
2.1 The Tenant shall be entitled to have and to hold the Demised
Premises for a term of five (5) years, commencina on the 1 st day of
February 2006 (Commencement Date), and endina on the 31st day
of January 2011.
2.2 Provided that the Tenant is not in default. the term of this Lease
Aareement shall automatically extend for one additional period of
four (4) years and three hundred sixty four (364) days, and without
the Landlord and/or Tenant beinQ required to take any additional
action to extend same.
4. Subsection 3.1, entitled "Base Rent", located on Page 1 of 18 of the Lease
Agreement, shall be deleted in its entirety and replaced with the following new
Subsection 3.1 :
3. 1 Base Rent:
Base Rent for the Demised Premises shall beQin to accrue on
February 1, 2006 (the Commencement Date), and shall be based
upon a total leasable space of 1350 square feet.
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3.1.1 Base Rent for the Demised Premises shall total thirty-
seven thousand eight hundred dollars ($37.800.00) per
year. payable in monthly installments of three thousand
one hundred fifty dollars ($3.150.00),
3.1.2 Base Rent shall be due and pavable on the first day of
each month throuahout the term herein.
5. The forth paragraph of Subsection 3.2.1, entitled "Operating Expenses", located
on Page 2 of 18 of the Lease Agreement, shall be amended (deleted items struck
thtough and inserted items underlined) as follows:
Irrespective of the items listed above, amounts due to
Landlord by Tenant, associated 'Nith Common Facilities
Operating Expenses, 'Nil! be determined based on the
items more specific3011y described in "Exhibit B", 'Nhich is
hereby made 3 p30rt of this Lease /\greement. Tenant
agrees and understands that the costs incurred by the
Landlord for Operating Expenses may increase or
decrease, and as such the Tenant's pro-rata share of
Operating Expenses shall increase or decrease
accordingly.
6. Subsection 3.2.2, entitled "Property Taxes", located on Page 3 of 18 of the Lease
Agreement, shall be amended (deleted items struok through and inserted items
underlined) as follows (Note that. this amendment is provided solely for
clarification purposes as to the current rate for the 2005 Ad Valorem Real Estate
Property Tax, as provided by Miami-Dade County, Florida):
3.2.2 Property Taxes:
The Property Tax Payment shall be payable by Tenant,
in accordance with Secti9n 11. The Property Tax
Payment for 20042005 is estimated at sevonty eight
dollars and eighty seven cents ($78.87) two hundred one
dollars and seventy-four cents ($201.74) per month.
7. Subsection 3.3, located on Page 3 of 18 of the Lease Agreement shall be
amended (deleted items struok through and inserted items underlined) as
follows:
3.3 Intentionally Omitted
The Base Rent amount pursuant to this Section 3 shall be.
increased annuallv. on the anniversary of the Commencement Date
of this Lease. as defined in Subsection 2.1. in increments of three
(30/0) percent per year.
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8. Subsection 7.1, located on Page 4 of 18 of the Lease Agreement, shall be
amended (deleted items struck thtough and inserted items underlined) as
follows:
7.1 The Demised Premises shall be used by the Tenant solely as a
federal credit union to provide financial services to its members
comprised primarily of City of Miami Beach employees, and current
and future members of the Dade County Federal Credit Union. Said
Premises shall be open for business in accordance with Federal
Law. Nothing herein contained shall be construed to authorize
hours contrary to the laws governing such operations.
9. Section 27, entitled "Notices",. located on Page 16 of 18 of the Lease Agreement,
shall be amended, in part (deleted items struck thtough and inserted items
underlined), to reflect the new Tenant's information as follows:
TENANT:
Credit Union Manager
Miami Beach Federal Credit Union
775 17th Street
Miami Beach, Florida 33139
Director of Asset Management
Dade County Federal Credit Union
1500 N.W. 10th Avenue
Miami, Florida 33172
With copies to:
Saraga & Lipshy, P.J\.
201 NE 1st Avenue
Delray Beach, Florida 33444
Attn: Brian Louis Lipshy, Esq.
10. Except as otherwise specifically amended herein, all other terms and conditions
of the Lease Agreement by and between the Landlord and Tenant shall remain in
full force and effect. In the event there is a conflict between the provisions
provided herein and the Lease Agreement, the provisions of this Consent to
Assignment and First Amendment to Lease Agreement shall govern.
REMAINDER OF PAGE INTENTIONAllY lEFT BLANK
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IN WITNESS WHEREOF, the Landlord, Tenant/Assignor and the new Tenant/Assignee
have hereunto affixed their respective hands and seals at the place, and on the day and
date first hereinabove written. Signed, sealed and delivered in the presence of:
Attest:
_ r
EACH, FLORIDA
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City Clerk
Robert Parcher
Mayor
David Dermer
Attest:
Tenant/Assignor:
Miami Beach Federal Credit Union
~~~~
Credit Union anager
!(Print Name)
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(Print Name)
New Tenant/Assignee:
Dade County Federal Credit Union
$U9-t.-l EL-uJ E- ey-
(Print Name)
'GO{LCbE JoS6Prl-
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. - . & Secretary
(Print Name)
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APPROVED AS TO
FORM & LANGUAGE
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EXHIBIT A-1
CONSENT TO ASSIGNMENT
of
Lease Agreement dated July 30, 2003,
as amended by that certain First Amendment to Lease dated January 11, 2006
This Assignment is being entered into on this day of 2006, by and
between MIAMI BEACH FEDERAL CREDIT UNION ("Tenant/Assignor"), a federally
chartered credit union and DADE COUNTY FEDERAL CREDIT UNION, a federally
chartered credit union ("Tenant/Assignee") whose principal address is 1500 N.W. 107
Avenue. Miami. Florida 33172.
WITNESSETH, that for valuable consideration in hand paid by the Tenant/Assignee to
the Tenant/Assignor, receipt of which is hereby acknowledged, the Tenant/Assignor
hereby assigns and transfers to the Tenant/Assignee and Tenant/Assignee hereby
accepts, all of its right, title and interest in and to the following described agreements:
Tenant/Assignor's rights under that certain Lease Agreement by and
between the Miami Beach Federal Credit Union and the City of Miami
Beach (City), dated July 30, 2003, for the Tenant/Assignor's lease of a
portion of the City-owned property located at 1701 Meridian Avenue,
Miami Beach, Florida (a/k/a Unit 775-17th Street) encompassing one
thousand three hundred and fifty square feet (1,350 sq. ft.) on the ground
floor of said property.
Provided, however, no warranties of any kind whatsoever are made incident to this
Assignment.
By:
Date:
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IN WITNESS WHEREOF:
this Assignment on th
Attest:
Date:
) II ~/06
Dade County Feder
n nt/Assignee)
By:
Date:
/ /&'/0 V;
Attest:
Date:
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